techkenyot.com
techkenyot.com November 20, 2017


ATC acquiring Indian tower units from Vodafone and Idea for $1.2 billion

14 November 2017, 01:29 | Casey Mitchell

Voda Idea to sell tower assets to ATC for Rs 7,850 crore

Telecom sector

Apart from intensified price competition and seasonal weakness as a result of the monsoon, the impact of the new GST increased the tax burden on the gross revenues to 18% (previously 15%), Vodafone said.

Vodafone Business Services, the enterprise services arm of Vodafone India, is contributing 19% of the company's total revenue or Rs 3610 crore approximately.

EBITDA margin shrunk to 21.4 per cent from 29.6 per cent, while service revenue dropped about 16 per cent to Rs 19,002 crore. Reliance Communications last week reported a consolidated loss of Rs 2,709 crore for the same period.

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"Amidst continuing intense competition, we recorded a gain of 0.6ppt in RMS in Q1FY18 (YoY) and delivered a stable performance overall.

We are making good progress in securing requisite approvals for our merger with Idea Cellular and in monetizing our tower assets", Sunil Sood, Managing Director and CEO, Vodafone India said.

Data traffic on its mobile network also grew as the company unleashed a host of data benefits under bundled data schemes.

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The telco's average revenue per user stood at Rs 132 in the second quarter compared to Rs 141 in the first quarter of the financial year.

"Data usage exploding and usage/sub (for users 1MB for Q2FY18) at 2.7GB". Results were helped by solid performance by the company's strategic business areas, namely data and Vodafone Business Services. "Data usage growth led by higher smartphone penetration at over 38% of total customer base", the company said.

American Tower Corp has agreed to buy about 20,000 mobile phone masts for 78.5 billion rupees ($1.2 billion) from Idea Cellular and Vodafone India, who are seeking to merge.

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"This transaction follows the Vodafone India/Idea merger announcement of 20 March, 2017 whereby the parties announced their intention to sell their individual standalone tower businesses to strengthen the balance sheet of the combined business", it said.



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